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Legislation

Brazil's online gambling regulation schedule is set out

Friday 19 de April 2024 / 12:00

2 minutos de lectura

(Brasilia).- The estimate is contained in a timetable published by the Ministry of Finance's Secretariat for Prizes and Betting (SPA), which establishes four stages for regulation.

Brazil's online gambling regulation schedule is set out

According to SPA Ordinance 561, the first phase will run until the end of this month. The second phase will run until the end of May. The third, until the end of June. And the fourth and final phase is scheduled for completion by the end of July.

In the first stage, the ordinances will establish the general rules for means of payment; the technical and security requirements for betting systems; and the rules, conditions and opening of the application for authorisation to commercially operate fixed odds betting throughout the country.

According to the Ministry of Finance, the rules will complement the ordinance with the rules for online betting auditing companies, published in February.

In the second phase, in May, the SPA will publish ordinances on money laundering and other offences. The rules on legal provisions and punters' rights to be observed by operators will also be published. Finally, the requirements and procedures for authorising live gaming studios and online games will be defined.

In June, the Ministry of Finance will issue ordinances setting out the technical and security requirements for online games and the rules for monitoring and inspecting the activity. Another ordinance will detail the procedures for applying administrative sanctions for non-compliance with commercial exploitation rules.

The final phase of the timetable, in July, includes two more ordinances. The first will define the concept of responsible gambling, with guidelines and practices for monitoring and preventing pathological gambling, among other measures. The second details the procedures for making social allocations effective, ensuring that contributions from the betting industry benefit society in a transparent manner.

According to the Ministry of Finance, the schedule defines a structure for regulating the electronic betting sector and represents a considerable advance in the management and supervision of this sector. "The ordinance [with the timetable] offers legal certainty, guarantees predictability and efficiency to the regulatory process, and thus solidifies the foundations for a stable and reliable betting environment in Brazil," the ministry said in a statement.

Categoría:Legislation

Tags: Sports Betting, Sportsbook , betting software,

País: Brazil

Región: South America

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